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Fraud in appointments, funds misuse
Irregularities were detected in the TTD Employees Cooperative Bank in an audit conducted by the staff of Divisional Cooperative office. It was found that the bank directors appointed 9 excess staff without requisite qualifications.
Tirupati: Irregularities were detected in the TTD Employees Cooperative Bank in an audit conducted by the staff of Divisional Cooperative office. It was found that the bank directors appointed 9 excess staff without requisite qualifications.
The TTD Employees Cooperative Bank established more than 50 years ago, and, at present, the bank’s annual turnover is nearly Rs 48 crore. More than 8,000 members are shareholders and they are investing funds in the bank. Primarily, this bank works under the Cooperative Act and the TTD EO acts as Chairman of the bank.
Highlights:
- Excess staff appointed without required qualifications
- More salaries paid to bank staff in violation of the Cooperative Act
- EO deputes excess staff to TTD Srivari Seva wing
Recently, some employees of the bank submitted a representation to the Divisional Cooperative office here about irregularities. The staff of the Divisional Cooperative office conducted a detailed audit and an inquiry. The bank directors appointed 9 excess staff without proper educational qualifications. A office subordinate was given promotion as typist without typing qualification. The audit officials have reported their findings to TTD EO Anil Kumar Singhal.
The EO instructed bank officials concerned to revert the typist as attender. The audit staff also found excess salaries are being paid to the bank employees in violation of the Cooperative Act rules. Excess nine employees have no work in the bank. After holding discussions with bank directors, Anil Kumar Singhal directed the bank GM to depute the excess staff to TTD Srivari Seva wing which is under the supervision of the Public Relations Officer at Tirumala.
Two days ago, excess staff were relived from bank duties. On condition of anonymity, a TTD official revealed that irregularities were taking place for more than 10 years. He stated that EOs, who worked in the past, are aware of fraud but they did not action. He said that the EO is streamlining the functioning of the TTD Employees Cooperative Bank.
By K Nethaji
